Non-food inflation

Inflation To Trend Downwards In Coming Months – IC Research
20 Sep

Inflation To Trend Downwards In Coming Months – IC Research

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Barring any unforeseen shocks, inflation will trend downwards in the coming months. According to IC Research, this is due to a stable exchange rate and the upcoming food harvest season. “We believe the resumption of artisanal fishing supported the supply of fish stock in August 2023 after the closed season ended on July 31, 2023. We also believe the soothing effects of an improved exchange rate combined with the onset of crops and fish harvest as well as the diminishing impact of recent taxes dragged down inflation in August 2023”, it stated in a report dubbed “Ghana’s August 2023 Inflation:…
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Inflation To Remain Above 10% Until End-2025 – BoG
21 Jun

Inflation To Remain Above 10% Until End-2025 – BoG

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Barring any unanticipated shocks, inflation is projected to gradually trend downwards but remain above the upper band of 8±2% until the end of 2025. According to the May 2023 Monetary Policy Report by the Bank of Ghana, risks to the inflation outlook are fairly tilted to the downside supported by the relative stability in the exchange rate, reduction in ex-pump petroleum prices, alongside base drift effects. This could mute the upward adjustments in administrative prices. Given these considerations, the Monetary Policy Committee decided to maintain the Monetary Policy Rate at 29.5% in May 2023. Headline inflation had already declined significantly…
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Inflation Falls To 41.2% In April 2023
10 May

Inflation Falls To 41.2% In April 2023

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Year-on-year inflation fell for the 4th month running to 41.2% in April 2023, from 45% in March 2023, extending the disinflation process since January 2023. According to the Ghana Statistical Service, both food inflation and non-food inflation dipped last month. This slump in inflation could compel the Bank of Ghana to keep its policy rate unchanged at 29.5% when the Monetary Policy Committee begins its 112th Meeting on May 17, 2023. However, the cost of credit still remains expensive as average lending rates hover around 35%. According to the figures, food inflation went down to 48.7% in April 2023, from 50.8%…
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